Iraq Says It Reached Understandings With US on Oil Exports Through Hormuz

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Iraq Says It Reached Understandings With US on Oil Exports Through Hormuz

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Oil (WTI)

Iraq's foreign minister says Baghdad has reached understandings with Washington on moving oil exports through the Strait of Hormuz. He put Iraq's losses from the Iran war and export disruptions at $60 billion, while exports recovered from a September drop.

Iraq has reached understandings with the United States to allow Iraqi oil exports through the Strait of Hormuz via a shipping lane near Oman. Foreign Minister Fuad Hussein made the announcement in an interview with Al Jazeera, Reuters reported.

Hussein also said Iraq's losses from the Iran war and disruptions to oil exports had reached $60 billion.

According to Iraqi energy officials, Iraq's oil exports rose to about 3.5 million barrels per day in October from 2.65 million bpd in September, after a sharp drop the previous month.

Source: Investing.com (Reuters)

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